Finance Ministry allocates LE2 bn to presidential, local council elections

The Finance Ministry has allocated LE1 billion to the upcoming presidential election and LE1 billion to the local council elections from the fiscal year 2017/2018 budget, Al-Masry Al-Youm reported.

The LE2 billion are disbursed from the budget reserves; this includes the bonuses distributed to judges who will supervise the election, printing election papers, security expenses and others, said Mohamed Maeet, Deputy Minister of Finance for Public Treasury Affairs and head of the Economic and Social Justice Unit.

The Finance Ministry stressed that all government agencies will be committed to paying employee salaries through ATMs after the Ministry banned the use of cash or the paper exchange system, such as checks and exchange bills, to disburse employees’ financial entitlements.

In a statement on Monday, the Ministry emphasized its keenness to shift to a non-monetary economic system. The number of state employees who receive their salaries monthly through cards issued by banks number about 4.5 million employees.

Edited translation from Al-Masry Al-Youm

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